Annual Report 2009/10 Excellence in Retailing - Douglas Holding

Financial liabilities
In the 2006/07 fiscal year, DOUGLAS HOLDING AG entered into a revolving credit facility
up to a maximum amount of 500 million EUR from an international banking syndicate.
The residual term of this revolving credit facility is two years. Withdrawals are charged at
EURIBOR + 25 base points, whereby the margin is fixed for the term. The commitment commission
for the unutilized portion of the facility is 30 percent of the margin. As of the balance
sheet date, this facility had been utilized in the amount of 91.3 million EUR. The aim
of this revolving credit facility is to reduce cash and cash equivalents as well as to create
flexible financing possibilities. The unused portion of the revolving credit facility is not subject
to any restrictions.
Besides DOUGLAS HOLDING AG, another lending company, Douglas Finance B.V. located
in the Netherlands, also became a borrower. This financing company serves the purpose
of providing financing to the foreign subsidiaries of the DOUGLAS Group. Due to the raising
and drawings of the revolving credit facility by DOUGLAS HOLDING AG and Douglas
Finance B.V. and further submission to the companies of the DOUGLAS Group, the utilization
of the bilateral credit lines by the companies was in part reduced. Withdrawals from
the bilateral credit lines amounted to 37.2 million EUR (previous year: 45.5 million EUR)
and under the revolving credit facility to 91.3 million EUR (previous year: 84.2 million EUR).
Liabilities to banks (without current accounts and revolving credit facility)
as of September 30, 2010
Original amount
(in million currency units)
Nominal amount
(in EUR m)
Carrying amounts
(in EUR m)
Fair Values
(in EUR m)
EUR 105.7 105.7 46.6 48.2
CHF 13.6 10.2 0.5 0.5
Liabilities to banks (without current accounts and revolving credit facility)
as of September 30, 2009
Original amount
(in million currency units)
Nominal amount
(in EUR m)
Carrying amounts
(in EUR m)
Fair Values
(in EUR m)
EUR 125.3 125.3 69.9 70.6
CHF 13.6 9.0 1.5 1.5
33. Liabilities to minority interests
There are commitments to minority shareholders of various subsidiaries to acquire
their shares. In addition, two partnerships hold termination rights which would result in
compensation at present values.
According to IAS 32, these liabilities are to be recognized as financial liabilities at Fair
Value. Therefore the individual commitments were measured in accordance with the respective
contractual agreements.
This amounts to a commitment totaling 90.1 million EUR as of the balance sheet date
compared to 110.8 million EUR last year.
Financial statements
Facts & figures
Consolidated income statement
Consolidated balance sheet
Statement of changes in Group equity
Segment reporting
Consolidated Cash Flow statement
Notes
Notes to the income statement
Notes to the balance sheet
Auditor’s report
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